Large communities with 100-200 seniors living in huge facilities are not what today’s seniors want.
Why is smaller better in assisted living? Seniors are not just seeking to live in “home-like” environments, they want to spend their golden years in actual homes. This is what residential assisted living is all about – actual homes located in traditional neighborhoods where mom and dad can share a family-like space with 6-12 other seniors. It’s not only safer and better, but it is where today’s seniors want to be.
This article will explore two things every investor, real estate entrepreneur, and assisted living business owner and operator need to know:
- Does the Size of An Assisted Living Home Really Matter?
- Top Benefits of Living in a Small Assisted Living Home
To envision the answer to senior housing, start by visualizing where you would want to live out your own golden years. If we are fortunate enough, aging will happen to us all.
After retirement, when your kids start having kids, and your twilight years start rapidly approaching, who will take care of you? A new study by the National Health and Aging Trends suggests that two-thirds of Americans over age 65 need help with activities of daily living. Doing everyday activities such as eating, bathing, and getting in and out of bed or a chair becomes difficult with age.
With 10,000 baby boomers turning age 65 every day, previous research has always shown that at least 25 percent of seniors will need help with activities of daily living.
Knowing this reality, where would you prefer to live?
Instead of occupying 1 of 200 beds in a large nursing home, most people prefer an option that allows them to maintain their individuality over being counted as just another number. Nowadays, seniors want to spend their golden years in a comfortable home with a few other seniors with similar interests. They seek to share connections and backgrounds.
Baby boomers especially prefer caregivers who know you and your family, understand your health issues, and can anticipate your daily needs with ease. While it’s difficult for most younger adults to picture themselves at this point, no one is invincible.
Fortunately, residential assisted living not only provides safer, more preferred living experiences for seniors, but it also offers an incredible opportunity for entrepreneurs and investors who want to be successful in business while also helping others.
That is what residential assisted living is all about – real homes for seniors. These smaller homes have better quality of care and higher caregiver to resident ratios.
There are many reasons investors, owners and operators are learning that smaller is absolutely better.
Most seniors who seek care at an assisted living facility have 3 distinct needs:
- Senior housing,
- Help with activities of daily living, and
- Chronic disease management.
There are a variety of features that define the best residential assisted living homes. These factors include availability of assisted care services, training level of medical staff, pricing, and the size of the residential assisted living home.
DOES THE SIZE OF AN ASSISTED LIVING HOME REALLY MATTER?
The size of an assisted living facility is measured based on the number of beds, above all other things.
But what does size have to do with anything?
The size of an assisted living facility makes a huge difference in the overall experience for senior living. It determines the quality of services offered along with five major benefits.
Top Benefits of Living in a Small Assisted Living Home
When making a decision to invest in or start a residential assisted living business, it is important to consider what seniors are gravitating toward.
There are several options that make small assisted living homes a better investment – it allows entrepreneurs to do good for seniors while doing well financially.
The following five benefits are key reasons why small assisted living homes are most desired.
- Personalized Care
Personalized care is one of the most beneficial perks of a small assisted living home.
Fewer residents allow caregivers to connect with seniors personally, physically and mentally. This deeper level of connectivity enables staff to engage in the daily routines of residents and memorize medicine schedules. As a result, these small assisted living homes translate to high quality of care.
Seniors with unique needs benefit from personalized care most.
Furthermore, the residential assisted living staff usually goes above and beyond to keep residents comfortable and healthy.
Personal space is a plus for seniors living in residential assisted living homes – it allows for privacy. Residents get their privacy just as they would at their personal homes.
Residents share common areas such as the living room and kitchen, but each resident has a comfortable private bedroom similar to their previous home environment.
- Less intimidating Experience
Moving from your quiet, comfortable home and being placed into a new setting is often an intimidating experience. The idea of sharing space with strangers might feel appealing.
However, the good thing about smaller assisted living homes is that they accommodate fewer residents, create plenty of privacy, and more personalized attention. Small residential assisted living homes are less intimidating, which helps seniors to feel more at ease.
Residential assisted living homes strive to make the transition as flawless and far less intimidating than big box nursing homes.
- Fosters Closer Resident Relationships
Residential assisted living homes foster a family-like environment that eliminates concerns of social isolation. Small senior housing makes it easier for seniors to share similar interests, create friendships, and make new memories.
- Cost Effective
One visual advantage of large, high-end nursing homes is the huge variety of amenities they provide for their residents.
Unfortunately, amenities like fitness centers, swimming pools, and beauty salons seldom get used by seniors in their golden years. This creates added cost but does not frequently provide a convenience.
The downside is that these high-end nursing charge standard fees that many families cannot afford. Smaller residential assisted living offers affordable living expenses that can accommodate most seniors.
Small assisted living homes make up for the posh amenities with tailored attention and comfort at a very affordable price.
INVESTING IN THE RIGHT ASSISTED LIVING MODEL
When the time to choose a nursing home comes, it’s best to pick a small residential assisted facility. Each assisted living home is different, so prior to making an investment into the industry, the Residential Assisted Living Academy provides a proven model that works best.
During the 3-day comprehensive course, Gene Guarino and his team of professionals will show you how to invest, own and operate your own small residential assisted living home.
Start planning now by contacting the Residential Assisted Living Academy for more information about how you can do good and do well in this rapidly growing and lucrative industry.